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tv   Countdown to the Closing Bell  FOX Business  October 22, 2012 3:00pm-4:00pm EDT

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day but the s&p is now on track to fall below what's called the 50 day moving average, signalling to investors that the market joyride over the past year may come to a halt. now, dragging down the dow right now, couple of names that have last week's story attached to them. general electric, microsoft, both of them that came out with numbers last week that failed to excite anybody. we also have merck moving lower. oil falling below $90 a barrel today. this is significant. as traders watch the restarting of the keystone pipeline as well as developments in the middle east ahead of the expiration of november crude contracts. december contracts typically have a higher volume. so look at this price right now. again, we are below $90 a barrel. can't wait to see that translated to prices at the pump. so what do we have? we have oil prices putting pressure on the entire sector. energy sector. we're talking about all of the oil services companies, energy is the worst performer today. leading the march downward. names like wps energy, marathon
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oil lower and baker hughes. searching for some green on the board, which we always do here on countdown to the closing bell. technology for once the only s&p sector today moving higher. it's been a a real downer over the past couple of months but right now apple is charging forward, up nearly 3% as anticipation for the mini ipad because you know, we all upgraded to the ipad 3, which you're not supposed to call the ipad 3. now we need the mini ipad. the anticipation continues to build this week. when will they unveil it? wwll it be the day they come out with earnings? that's thursday. let's get right to the floor show. traders at the new york stock exchange, cme group and the nymex. kenny, friday you and i talked about how what might we see this week. we see this follow through with the losses today but with the nasdaq down just 3 points, i'm thinking it was down 67 points on friday, how worried are you about tomorrow? what do you think? >> here's what i think this morning and i said it to you this morning we had that little bounce this morning and then we pulled right back as people really kind of digest the earnings news, like you said from last week, what the tone
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feels like, so my sense is we've now decisively broken through technical at the 50 day. we have broken through support level 1425. we have broken the up trend line so clearly it puts us in a different position. think the market will feel -- i think the market will feel that out. i think weakness is ahead. not going to fall out of bed, but i think there's plenty of support, i think there's a lot of money going to be to put to work. i don't expect the market to fall out of bed but i do expect it to be weaker. >> intel is up today nearly 1%. we are looking at needless to say a technology sector that looks somewhat decent. i'm interested in the oil story. let me take it to the chicago mercantile exchange and phil. to see oil right now, i'm looking at crude at about, let's see $88.30. that's for the november contract. again we're waiting for it to turn over to the december contract. it will be a little bit higher there. but what does this do to the psychology of the markets if energy is cheaper? >> well, you think that it would
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be boosting, you know, the obama campaign, but i don't think it's really having any impact -- impact at all. i know one of their primary goals is to get oil back down, below 95 which they did a good job with. the story with oil right now is you have excess supplies out there. the department of energy is reporting that they've got about 365 million barrels on hand. seasonally we only need about 330 right now. we've got about 10% more in inventory. the other thing is you have the keystone pipeline starting back up. that should push down gasoline prices in the midwest just a little bit. keep oil below that $90 area, but i think it will remain above about 87 1/2. that's the key technical level. liz: hold on a second. we're kind of languishing on the crude oil chart but should also be looking at nat gas which is down 4%. that i think is a significant move because some people had real hope that natural gas would start to really muscle up. >> well, nat gas is going to hinge on that forecast for the weather. i mean it really -- you saw
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quite a bit of inventory come out all summer long with the unusually hot weather. now we're looking for forecasting cooler weather. expecting next 166to 20 days that we should see seasonably cooler weather. there will be some support in natural gas. it's just a matter of it's doing a little bit of selling because of outside markets. liz: energy sector is one of the losers today. i want to get to the nymex, we should talk about some metals here. i'm not so interested in gold at the moment because i would think -- and you can correct me on this -- that we're looking for the fomc meeting to give us guidance about what they will do and that of course in turn affects gold. but perhaps it is copper i want to look at because copper is very much sort of a signal. copper prices tend to move in tandem with equity prices so it is down right now. and what you see with over the past couple of weeks is this concern about chinese consumption dropping. what do you see there anthony? >> the chinese consumption is definitely a concern when it comes to copper prices and
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energy prices as well being part of the industrial sector also affecting copper prices going forward. and yes eyes on the fomc meeting on wednesday are going to definitely have a, you know, a continued impact on what copper does, you know, going forward. liz: good to see all of you. thank you very much. again, right now we're pretty much the lows of the -- lows of the session right now. dow jones industrials down about 92 points. we could see an improvement, who knows, the market has behaved very strangely but at the moment we have in essence seen that 90% of companies are lowering their earnings estimate what is the investing environment like? my next guest says and this is the quote playing musical chairs on the titanic. but he has some ideas to keep your portfolio from sinking. rdm financial group's ceo is joining me in a fox business exclusive. i don't think that's a good
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assessment because what in essence you are saying is you can pick the right chair but the ship is still going down. >> listen, we have to take care of this debt thing. if this debt thing doesn't go away, whether in europe and the united states, we're going to have problems. it's hard to -- liz: you have been here for two years saying that and i agree with you but the market continues to go higher. people can still make money can they not? >> i'm not saying we're not invested, and you have to pick the right chairs, but at a certain point we will all have to pay. i'm sounding like a total bear, i'm not at all, but i think there are ways to invest. right now our portfolios are about 65% of the volatility of the s&p. so we're in it, we're just not in it with both legs and what we're picking, listening to the oil and gas discussion just before me, well, we own the pipelines. we're earning 7% a year on the pipelines. we're doing just fine. are we beating the s&p? no, but that 7% is pretty solid.
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however, the big -- we see the earnings right now showing -- now they are showing bottom line. before it was just the top line. but we kind of saw it coming. the real question to us is -- liz: caterpillar made its bottom line but not its top line. >> that was interesting. caterpillar was -- is it still up today? i'm not sure. liz: yeah, it is up. but let me then take it to you here, do you like just u.s. companies? or do you feel all governments of first world nations so to speak are pretty much overleveraged? >> still bulls on the emerging market. we think europe is really the question mark. we listen. we read. we talk to people. can the u.s. and can the emerging markets do well in the face of a bad europe? we tend to think not. and that's why we're a little bit more bearish on the entire market because we think europe is really going to be a drag. liz: see i can do this because ron and i go way back. we're good pals here. let me push you on thiss >> go ahead.
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>> dax, germany's market up 23% year over year. here's another one, the cac in france up 10% not nearly as robust. but the hang seng index in hong kong up 19%. you are telling me that developed countries cannot do well? >> what i'm saying is look at every single federal bank in the world for the first time they are all coordinated. they all flooded the market with cash. i'm not -- again, i'm not -- liz, i'm not sure it is not a sugar high. i've got a feeling that some of this is really not real. it's just there's nowhere else to go. but if you look at unemployment, you look at the debt, some day we're going to have to pay. liz: two names internationally, one is asian name, one is european name. the european name is nestle, what makes you think it will continue to do well in tough conditions? >> there's a way to play the market even in scary times. it is the number one food company in the world. you look at the caloric intake of the planet where everybody in the emerging markets, 70% of the
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world's population, they are eating better. nestle has made great inroads into tell merging markets. -- emerging markets. they bought the formula division from pfizer so now they are in the baby food market in the emerging market. there are ways of making a lot of money in a scary market. liz: you still like baidu very much. >> here again emerging markets we are still bullish on them. it is the google on china. google is not getting in there with any great force any time soon. we like it for the long-term play. the combination of portfolio -- people have to put together portfolios, some risk, some things you can count on, and put it together, and moderate your volatility. liz: ron is here to make sure your titanic portfolio is of a rose version and not a jack version because jack died and rose lived. >> we'll live. we will be fine. liz: ron is coming up with much more. he has more picks.
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we're 51 minutes away from the closing bell. still down about 92 points for dow jones industrials. jeff flock telling us about the one crop that's benefitting from the drought and perfect timing. jeff? jeff: i am driving through a field, liz, that is literally choked with pumpkins, and the reason is the drought. i will be back in just a moment to explain why that is. why if you are a pumpkin farmer, you think it's been a great year. stay tuned. ♪
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liz: before we get to the power mover, i wanted to show you the dow jones industrials. i already showed you intel. you know, technology is the only sector doing better today. but how about hewlett-packard one of the better ones today, up 8 cents. also got cisco and hewlett-packard as i said three big tech names moving higher today. the power mover of the hour is supervalue. there we go. it's right here. this is a grocery chain. the shares are skyrocketing on speculation that the company could be a takeover target. so yeah i'd say a gain of 36% is skyrocketing. this afternoon reuters reported
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that cerberus capital management is working on a deal to buy the troubled company. the company shares as you see down more than 60% year to date. supervalue even suspended its dividend earlier this year, so it's been in a heap of trouble. but at the moment, nice move today up 37%. let me go to the fox 50 here so you can get a sense of what's really going on. oh, no. oh, i'm so bad at this. here's the fox 50. you can see that again it is the same names that are pretty much looking the way they are on a day where we have red on the screen. but how about orange? let's flip it over to halloween just around the corner we are picking pumpkins. jeff flock at a pumpkin farm in illinois. then we have got nicole petallides at the new york stock exchange, little scary today, but jeff first, the pumpkin crop. look at that. jeff: the most bountiest pumpkin harvest in recent memory and it is all liz because of the drought. the biggest enemy of the pumpkin
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is rot and mildew and wet. and occasion that willy you will see one -- and occasionally you will see one, here's a big one, look at that, that one is rotten, but most of these are not. it's all different kinds of varieties. this one farm grows 90 different kinds of pumpkins. that's something called a wolf pumpkin, has a real big stem on it. this's other ones over here. this one is called an atlantic giant. it's a green one. you have green pumpkins and also white pumpkins. this is something called a full moon pumpkin. all of these varieties have done so well because the ground was dry and they didn't rot. usually most of the pumpkin crop is lost to rot and mildew. this year -- and they are growing big. look how big these guys are. these are jack o lantern pumpkins. the field is filled with them. an incredible harvest. one good crop in a drought, good to know. liz: interesting. i'm so interested that i was getting a bunch of other news and i'm thinking to myself i was
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at the pumpkin festival in ohio several years ago, and this is amazing to see that there isn't a problem there. jeff, save me a piece of pie. nicole let's get to you at the floor of the new york stock exchange. nicole: got to love the pumpkin patch. some of my greatest photos of my kids are in those beautiful pumpkin patches. i wanted to take a look staying on the pumpkin theme for just a moment. let's take a look at dunkin brands. we're looking at it because they have pumpkin spice coffee. you can get the ice, the hot. also baskin-robbins which is under dunkin's brand umbrellas. they have ice cream cake for the holiday. they are getting ready for the halloween holiday. it's a big economic day where everybody is spending celebrating halloween. let's take a look at retailers. vf corp. is the one we are focusing on but you can take a look at coach and other names coming under pressure. vf corp. came out with their
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numbers. vf corp. is the parent of north face, timberland, so there are a lot of names you know. they did come out with numbers better than expected, saw 27% increase in their third quarter profit. they raised the dividend. but here's the thing -- and raised full year outlook as well. the north face sales were slower than expected. and that's one of the reasons that we are seeing it sell off here. vf corp. now is down 7.6%. coach not too far behind. down 4%. liz? liz: when there isn't freezing cold weather -- [inaudible]. nicole thank you very much. let's shake it up with the team. our team consists of peter barnes if washington, d.c., liz macdonald here in new york. we kick it off with rich edson standing by at the site of the third and final presidential debate in boca raton florida. rich, investors, what should
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they be looking out for in tonight's debate? rich: this is a foreign policy debate. carved up into six different sections, 15 minutes each. the final session first to take a look at would be china. china is something there has been plenty of rhetoric on the campaign trail. mitt romney said he would leave china a currency manipulator on day one. that's those who invest in importing businesses might not like to hear. take a look at what they say on china this evening. also oil. much will be about middle east. what a potential romney administration or second term of obama administration has in store for middle east. that has everything to do with oil. there's trouble there, price of oil goes up. this is a matter of president obama's policies, favor some type of stock you invest in, you want him to deliver a strong performance, same from governor romney. we've been hearing from some romney aides that he wants to talk about the economy as much
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as he can, to talk about europe and their debt problems and prevent that from happening here. also plenty other things. they will try to force an economic message as much as they can tonight. we will be ready to listen. liz: china is an interesting excellent point to bring up because suddenly it is whoever is harder on china won't be as good for companies trying now to do business in china, our largest trading partner so we will be watching that. let's talk about the stock market, could it take a hit after two potential major changes that come out of washington, d.c.? liz macdonald on that side of it. >> that's what's on the radar screen at jpmorgan chase, black rock, bmo capital group and wells fargo. they are talking about a potential double-whammy tax hikes for dividends and capital gains possibly january 1st as high as, you know, 44% roughly if the health reform investment tax kicks in. and so what they are talking about not just selling pressure on these stocks in other words because dividend tax is coming
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investors may say we may bail out of these and go towards a growth stock and, you know, play catch up there. so the issue is what will happen if both of those tax rates go up? you can lock in the gains in your capital gains and sell those stocks. so the double-whammy is selling pressure, a lot of warnings supplying around right now on -- warnings flying around on wall street about these two possibilities that may not be taken care of during the lame duck. you know, they're worried about december and november activity. and i've got to tell you something, the stocks are looking at electric utilities, of course consumer staples and industrials. because i will tell you something, there was a lot of movement into these dividend-paying stocks after interest rates dropped on savings accounts. liz: let's get to where there was a lot of movement. and that was in the solar world, but now the question of government subsidies and the fact that it doesn't appear that they are helping the industry on a long-term basis, the
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guggenheim solar etf down just about 49% over the past year. this is a struggle now, isn't it? peter barnes is on that story. peter: that's right liz. another u.s. solar power company that got some government backing has filed for bankruptcy. satcon in boston which traded as high as $40 a share two years ago, filing last week, it's the latest solar firm to go bust. now, the list includes the infamous solyndra of course which left taxpayers on the hook for 528 million dollars in federal loan guarantees. satcon had been approved for 3 million dollars in energy department grants, but had only taken down about 200,000 of that cash. the solar industry is undergoing a major shakeout and consolidation and it may barely survive in the u.s., even with all this government support. it's been brutalized in recent years by falling prices, oversupply, and competition from china, which continues to invest heavily in solar.
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a green tech research firm gtm research sees another 180 solar panel plants going out of business or being acquired by 2015 globally, 27 of them are in the u.s., but 54 of them are in china, where the government has been keeping them alive. gtm says the shakeout could shut down all u.s. solar manufacturing facilities by the end of next year. liz? liz: it's become commoditized and the prices are cheaper harder to make money. good to see all of you. thanks for weighing in on shake it up. closing bell ringing in 37 minutes. we have pared about 25 points off those losses here. dow jones industrials down about 75 points. charlie gasparino is running down here right now with the breaking news on this, it focuses on the future of the woman who runs the sec. don't go away. breaking right here exclusively. look, if you have copd like me,
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liz: breaking news. the fox business network has learned that sec chairwoman mary
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shapiro could leave her job sooner rather than later. charlie gasparino has the exclusive details, as soon as next month you say? >> right, this is all contingent -- at least this is what shapiro is signalling to wall street executives that the fox business network spoke with. it is all contingent on who wins the presidential election. if obama wins reelection she is likely to leave immediately, maybe even that day handing over her role to elise walter, a democratic commissioner, someone who is considered can do the job. if romney wins -- if romney wins, this could get more complicated. that could take a month to two months that's where she would be in this job longer, possibly staying out her term. i think her term ends with the presidential term in january. that's where she would be in the job longer. clearly she's out. she is telling people this is it. it's a matter of timing and that is on who wins. if romney wins as president, who
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might he appoint as sec chairman? two names come up, a commissioner, a republican commissioner currently on the commission, and travellers vice chairman william hayman, a guy that i have known for years, you know, has worked for sandy weill. it's interesting, he managed the citigroup investment portfolio. jpmorgan's investment portfolio is where the london wales situation went down. so william hayman has been around wall street for a long time. he's someone who has done a pretty good job. he's moved up the ranks. he's a very well respected guy. he's considered a prominent republican. i think he's given some money to republicans. his name is in the mix if romney wins as well as daniel gallagher, but if obama wins, it's likely to be elise walter, and i will tell you, this is all about timing. when mary leaves, it is going to be an interesting sort of recap
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of her four years there. you know, very controversial, she took over -- i think she's done some good things. she took over when morale was real low, right at the time the madoff scandal broke and it became clear that the sec did not -- was told about this and didn't do anything. she came in and i will tell you one of the best things she did was appoint the enforcement chief. he is one of the best in the business, former prosecutor, knows what he's doing. brought back some of the morale to the enforcement division. the negatives of mary -- and i personally like her. this is a big negative and i think it's a negative which means she should leave is she's never addressed market structure. you know, we still -- the overhang of the flash crash is still there. what steps have the sec taken? we will do a little more reporting on that tomorrow by the way on exactly what's going on with market structure. that's the negatives and the positives with her. another positive i think she's a very nice person. i think that counts a lot. liz: she is. but she's also been tough. you know, your timing is perfect
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because tomorrow she's joining cheryl casone over the noon hour for an interview. cheryl will definitely be asking her this very question, but i'm interested to see how all the other reporters who descend upon her at the conference ask her the same questions as it pertains to your reporting. >> we will be doing some reporting right before that. i will have some exclusive new details about the flash crash and market structure, you know, as a sort of warm up to cheryl's interview with shapiro. it should be an interesting morning tomorrow on fox business. liz: yes, it always is, but in particular. charlie, great job. thank you very much. and look, while he was talking, we came back even -- >> that's why. it is because of me. liz: the nasdaq just turned positive by the way. >> that's me. liz: the closing bell ringing in 29 minutes. as we gear up for the presidential debate on foreign policy tonight, one topic sure to be on the table, iran, and who is still doing business with the rogue nation? but how about this angle, super hot italian sports cars makers are continuing to sell vehicle in iran despite economic sanctions against that nation.
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coming up, he's revving up the engines in the fight. new york city public advocate is joining us to talk about how he's getting companies to fess up and pull out of iran.
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liz: just in time for halloween the walking dead is back on -- it was always on amc networks but it is back on dish network. this settles a high-profile bitter dispute between the two and now shares of dish network, cablevision which is also involved in all of this and amc networks all hitting new highs
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today. look at amc, up 3 1/4%. just went public over the past year. let's get to dennis kneale. dennis: it started out as a particularly bitter fight between a carrier and a channel, but now that it is over, it seems like the settlement is good for everyone. amc and its series walking dead back on dish last night. settling 2.5 billion dollars lawsuit against dish for 700 million dollars in cash. now dish will pay that sum this week. and amc will split it 50/50 with its former parent cablevision. dish had yanked amc off the air at the end of june citing the price dispute. amc said it was in retaliation for a lawsuit on separate matter. look here, stocks of all three companies trading up to 52 week highs today. dish stock up 2.2%. last time i checked a few minutes ago. and it's agreed to pay 30% price increase to amc. amc stock up over 3% today.
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and cablevision has been trading flat all day but up over the 52 week high earlier. so kind of good news for all three. you don't see that. there's only a winner and only a loser. liz? liz: these battles get epic and are fascinating. love to see this. thank you, dennis. dennis: okay. liz: people who love the walking dead are happy to see it back on dish. what should we do -- this is an important question i want you to think about. what should we do with the companies that are still doing business with our enemies? it is a question likely to come up tonight in tonight's foreign policy debate. just a few months ago, you remember this one, a bank got slapped with 340 million dollars fine for doing illegal business in iran. well, today, we've got somebody who is leading the fight to stop high end car companies from doing business in iran, in particular maseratmaserati. we welcome new york city public advocate bill de blasio. joining me in an exclusive. >> maserati just opened a show
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room in tehran. they're making a mockery of international sanctions because let's face it, there's money to be made in iran and instead of respecting the fact that the global community is trying to shut down this murderous regime, maserati is going there to add to its profits. we were in front of the maserati show room in manhattan today to say that people of new york city, people all over this country, they don't like to see anyone doing business with this regime, and maserati has to ask themselves a question, do they want to make money here in america and have a real customer base here or do they want to do business in iran? they have to make a choice because they won't be able to do both. liz: in fact we have a photograph of the store front in tehran where it said maserati coming soon, but now you're telling me it is open? >> they have announced up and down the block that this is going to be a new showcase for maserati in that country. and think about this, right now maserati does about 300 million dollars worth of business in the united states. well think of the average american consumer, including someone who might be able to buy a maserati, if i walked up to
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them and said you know what, this same company is aiding and abetting the iranian regime, don't you think they will take their business elsewhere? >> i might say to you who does bill think he is that he can control what an italian sports carmaker is doing? can you have had any pressure here? have you had previous success with other foreign car companys? >> we sure have. a coalition of allies have gotten together to press this case over the last year plus. hyundai has left iran, porsche,le volvo, fiat brand has left iran. liz: they have to be pressured? >> we would like to see these companies simply do what people all over the western world know we have to do which is disengage with iran and stop the regime. unfortunately some of these companies are going in the opposite direction. liz: here's the picture, the tehran maserati dealership. who has the money? is it the cronies in the government who are buying maseratis? >> it is those who have the power and wealth in iran, those are the folks close to the
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government. iran watch list.com is the tool we are using to direct pressure on companies to say get out of iran now. don't aid and abet this regime. liz: lamborghini is also a company that's doing it. audi owns lamborghini. fiat owns maserati, but fiat is out but lamborghini is still in. fiat owns chrysler. >> it is a little complicated. liz: can you use that angle? >> i think we can. liz: would a guy like sergio marchionne who is a very smart businessman and look at a guy like you and your team and say good luke -- good luck with that? >> i think sergio has done a lot to help the american economy. i would say to him you are going to hurt america, western america, hurt global security, if you don't put preesure on the iranian regime. if you are selling cars this, you are helping the iranian economy and keep them afloat. let's make that disconnect. liz: ahmadinejad has been acquiring nuclear capability and this is a problem considering he
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has said he wants to obliterate israel off the map and there are a whole bunch of issues here. at a time though when a car company is dying to make even one sale, i mean maseratis are not cheap, can they justify this and say hey, would you rather lose jobs? you know, you always hear that argument. it's pathetic but you do hear that argument. >> when you talk about international security, it is pathetic. look, iran if they get a nuclear weapon, they are a threat to the entire world. there are times when you say this is not business as usual. the companies that have left have helped to put pressure on iranian regime. they have helped to bring a day when there is change there. the ones that are staying are helping iranians stick with status quo, unfortunately. liz: royal dutch shell for example is still doing business there are, a couple of other ones, rio tinto, schlumberger, these are companies that still do business, are you looking to put pressure on them? >> we are going to move from automobile companies to electronics and next and then
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beyond. siemens is a great example, has presence there. liz: any u.s. companies? >> not that i know of yet. if the western companies would act as strongly as western governments, western governments have done a great job with sanctions, it is having a huge effect on the iranian economy. liz: are you running for mayor? >> we'll talk about that soon. liz: be first to tell us. >> that's fair. liz: closing bell ringing in 17 minutes. he already told you his idea for keeping your portfolio afloat. coming up, he will recommend one stock with a dividend yield of more than 12%. you want to hear about that pick and some of his others? stay tuned. he's coming right back. [ male announcer ] do you have the legal protection you need?
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>> here's your fox business market check. take a look at shares of monster beverage company pulling back significantly. the fda has reportedly received information about five deaths which may have occurred after people consumed monster's namesake energy drink. however, a spokeswoman for monster says the company is not aware of any fda reports about deaths, but shares of monster beverage are sitting right now down 14%. there has been a suit filed in riverside, california, involving a case of so-called caffeine toxicity. too much caffeine and a young
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girl there, 14 years old died. so we're waiting to see what develops here, but right now the market is not waiting. they are pulling the stock down. let's get back to ron weiner. he says stop focusing on the economy's macro issues, time to pull out the microscope if you want to make some money. he's back with some names you believe have room to grow. let's start with one positive note, that appears to be a bottoming out of the housing industry. wells fargo is your pick here. >> not just that, 50% fee for mortgages and financial services and 50% from income from interest. it is a good bet. number one mortgage organizer in the world. liz: 30% year over year. >> it's been a good play but we think it has a lot more room to run. liz: what will generate that? >> lower interest rates. the fed said we're going to keep it low. liz: still find a way to have decent margins? >> that's tough, but they also have -- not just that, but they are able to make their fees on this, but they also have their financial services arm that's
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going quite well. liz: the next one, unbelievable dividend, the stock is flat over the past year, but you still like it is simply because you get to shake out a dividend? >> unfortunately, one of the founders and presidents died over the weekend. liz: that's right. >> we're going to watch that of course but this is a play that's given you 12 1/2%. it was higher. they actually cut their dividend but also announced billion and a half dollar stock buyback. a stable company, up 11% for the year. you know what? if we just clipped the 12 1/2% coupon for the rest of the year, next year i will be happy with it. liz: one heck of a dividend not bad at all, 12 1/2%. let's get to the final pick, which needless to say is really kraft, it is part of what was spun off with kraft. >> that's right. we actually owned kraft in the split. we sold off the u.s. unit, kept the foreign unit. that's, you know, how can you say no to oreo cookies?
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chips ahoy, trident gum. ritz crackers. we're exporting the best known brands, number one, number two in almost every category. there we go back to food and emerging markets, caloric intake may not be the most exciting thing but making money. liz: i eat that stuff too. my daughter asked me this morning why can't we have oreos? you are wearing me down. >> 50 calories an oreo. liz: how do you know that? he really does his research. >> we really do. liz: great to see you. ron weiner of rdm capital, he is the ceo, more than half a billion in assets under management. now down just 42 points. as i said earlier the nasdaq had posted moves to the upside. still holding on to that. although the s&p not quite making a go of it. nicole petallides on the floor of the new york stock exchange. the traders, what are they focusing on this week? nicole: i love talking to the traders. they give us the inside scoop here on the floor of the new york stock exchange.
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we have one joining us right now. there are three things you are looking at, the election, economics, the economy and earnings. which one do you want to start with? >> let's start with the debate, that's coming up tonight. i don't think that's going to move the markets all that much. unless there's a real blowout one way or the other. but we will look at that. we'll parse through that. i think what's really going to be critical and kind of under the radar right now are going to be some of the economic reports. the fomc which is going to be reporting. i don't think there will be any policy changes, but then the real important one is going to be the durable goods orders for us because that has been trending the wrong way. it's one of those weird economic data points, that's really been going against the grain for a lot of the stuff we're going the see. nicole: you're thinking we could be leading to the down side here based on what you are saying? don't seem too optimistic right now. third day of selling for the dow; right? >> i don't seem that optimistic, and i can't be that optimistic, but the problem is we have hit oversold conditions inside the s&p, so like everything that we have seen this year, we have got
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so many cross currents of information, cross currents of data that we have to contend with, it is tough to call. nicole: all right. let's talk about earnings. can't call it, nobody really can unless you have a crystal ball. seeing some earnings coming in, some of them have been disappointing. what do you think about that going forward >> the one sector i have been focused on has been the industrials. the industrial earnings we knew were going to be weaker but what we didn't know what is going to be the revenues top line trade sales and revenues for these companies going guard forward. -- going forward. that's going to be a problem if we continue to shrink. nicole: we've heard some of those being somewhat cautious. liz: mcdonald's pulled back last week because of the earnings disappointment there. this is a stock that was what for the annual high about $102 a share and right now $88 and down again today so people did not see mcdonald's as a buying opportunity. i don't know why, it's been a
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brilliantly run company so they run into one stumbling blocks. we try and teach you try and look at good quality companies going through bad times and buy on the low side. closing bell ringing in about 6 minutes. follow me on twitter @ liz claman. you would have known that charlie gasparino was running down here on breaking news on when and if mary shapiro of the sec would be leaving. i tweeted it. the one family tree that's worth 1.6 billion dollars, stay tuned. [ male announcer ] this is steve.
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he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, hich is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameriade.
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liz: in the last hour the dow has come back 97-point, all indices in the green and as is ancestry.com. a bid on a private equity firm in europe for $1.6 billion buyout. the stock is up 7.75%. getting close but not quite at the year-to-date highs. this is pretty unbelievable to see such a comeback. we do have the nasdaq looking solid waste at this point and the s&p a fraction of a move thabuta big after the bell move. david asman is getting us proud. david: we were just for a moment triple digits, the high 50s and 60s mostly. it may still end up in negative territory but only temporarily. liz: let's get to nicole on the floor. still down, pretty unbelievable but awaiting earnings from yahoo, this would be the company's first earning release
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under new ceo melissa mayer. nicole: that will be key for this company. the stock virtually flat in the wait-and-see mode into the closing bell. so many tech related companies coming under pressure. david: apple, let's talk about apple because they didn't have so much of a turnaround as a big boost, a lot of people figured it was undervalued and were buying like crazy. up $24 right now, a 4% gain. nicole: we're looking at apple. library maker research in motion losing at a client, they will all move over to the iphone, so that is something interesting as well. year to date, apple is up and we're waiting for the ipad mini. liz: it is unbelievable. what a fall from grace for that company.

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